Below is the first of blog posts in which Servingintel highlights a fellow hospitality technology industry
voice to give broader perspective and deeper understanding of current issues effecting our partners, both current and potential.
Enjoy!
Introducing John Ryan of Marlin Leasing to tell us a bit about how end of year, taxes and technology can add up to big profits.
As the calendar is ready to flip another year, businesses are reminded about some important decisions before we move to 2016: goals for 2015, budgets for 2015 and 2016, and forward looking goals to start the new year. How can your business increase productivity? How can your business become more efficient and streamlined? That answer may be to invest in new commercial equipment. With that comes the dual question of : will this make our business better (ie: more profitable) and what are the financial implications? The first part of the question can be answered on a micro and macro level, however the second question has a layer that is mostly not explored by companies. Some companies, especially small businesses are even unaware of this layer. The layer is the tax implication of such a purchase, and how it can benefit your business.
The aforementioned tax implication is IRS 179. This is a tax code for businesses who are leasing commercial equipment. Any kind of equipment with a commercial purpose. While most companies already know the benefits of leasing, (cash preservation, turnover of equipment after its useful life has expired, etc.) most are unaware what a tremendous tax break they can earn just by simply contributing to the economy. On a typical $25,000 transaction, a business will realize a net savings of over $3,000! What can your business do with that savings and extra cash? Add that into the monthly savings of not putting out for a large capital expenditure, and the end result is some nice cash on hand for emergencies, marketing, payroll additions, or any other methodology to put your cash savings to use.
John Ryan
Senior Business Development Manager
